Introduction to Excel Functions and TemplatesIn Excel, a function is a predefined or built-in formula for a commonly used calculation.Each function has a name and a Syntax.SyntaxSyntax is the rule a function follows, using the following format:=FUNCTION(argument1,argument2,argument3)a.the name of the function goes in place of “FUNCTION”b.an “argument” is the cell reference, value, or text reference required by the function to perform a calculation.c.a comma is used to separate the arguments in the function.eg.=PMT(rate,nper,pv,fv,type)or =PMT(B3,B4,B5,0,0)RangeA Range of cells is used in some functions for its calculation. A Range is denoted by the use of a colon ( : ) between the cell references. To select the cells starting at B5 and continuing to cell B10 inclusive, the entry would be B5:B10.eg.=AVERAGE(range of cells)or =AVERAGE(B5:B10)Function Dialog BoxThe function dialog box guides the user in selecting the correct arguments required by the function. The cell references can be typed in to each argument’s field. At the right of each

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